Does everyone here max out their HSA, 401(k), and Roth IRA? With my relatively low salary in NYC, I feel like if I tried to maximize all of them, I’d barely have enough cash to cover day-to-day expenses. How do you balance long-term savings with the high cost of living?

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I’m maxing out my 401k starting this year. Don’t have an IRA because I don’t have the money to contribute to one right now. I wish my healthcare plan allowed for an HSA, but I always get the plan with most coverage.

Living below your means is easier said than done. Eating meat and veggies is cheapest, don’t be tempted to buy processed food. I’ve always been a homebody, so I don’t spend on drinks or event tickets. I borrow books from the library using the Libby app and for each book I read for free, I put $20 in savings.

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That’s really good I will try my best I guess

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Make a budget based on your goals.

Even in HCOL you *can* live cheaply, but it does require some sacrifices, eg longer commute, living in less trendy areas.

If you are early in your career and expect pay rises it’s ok to plan to save more later.

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